Enphase Energy, Inc. (NASDAQ:ENPH) Shares Sold by Bailard Inc.

Bailard Inc. lessened its stake in shares of Enphase Energy, Inc. (NASDAQ:ENPH) by 33.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,564 shares of the semiconductor company’s stock after selling 2,841 shares during the period. Bailard Inc.’s holdings in Enphase Energy were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Enphase Energy during the third quarter valued at approximately $1,273,000. Charles Schwab Investment Management Inc. increased its position in shares of Enphase Energy by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after purchasing an additional 16,234 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Enphase Energy in the 3rd quarter valued at $37,475,000. Mizuho Securities USA LLC lifted its holdings in Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after purchasing an additional 438,424 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its stake in Enphase Energy by 15.9% during the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after purchasing an additional 31,008 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENPH has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price objective on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Piper Sandler lowered their target price on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. HSBC cut Enphase Energy from a “buy” rating to a “hold” rating and cut their price target for the company from $154.00 to $81.00 in a report on Friday, November 8th. Finally, Royal Bank of Canada lowered their price objective on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $90.42.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $57.86 on Wednesday. Enphase Energy, Inc. has a 52 week low of $51.63 and a 52 week high of $141.63. The firm has a 50 day moving average of $65.55 and a two-hundred day moving average of $82.85. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $7.66 billion, a PE ratio of 78.19 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, research analysts predict that Enphase Energy, Inc. will post 2.08 EPS for the current fiscal year.

Enphase Energy Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.